Weekend price movement in the Arkansas 2012 cash soybean market dropped the price under the $15.00 level for the first time since Independence Day as the Monday statewide average fell to $14.86, a 28 cent decline from the previous Friday level. Market price was able to recover all of its loss by the end of Thursday trading before a Friday decline that left the statewide average at $15.24, still a 10 cent increase from the previous Friday closing average (Figure 1). Old Town/Elaine had the highest individual market price of the week at $15.61 on Thursday, the only daily quote at or above $15.60. West Memphis reported $15.59 on the same day. Daily individual market low for the week was $14.53 at Wynne on Monday. Wynne was at $14.54 on Tuesday and no other market had a daily average under $14.60. Last day individual quotes obtained from the fourteen state markets ranged from $14.94 at Wynne to $15.44 at Helena. The quotes put the closing day price spread for the state at 50 cents, a 5 cent narrowing from the previous Friday.
Quotes on the 2012 crop for January 2013 delivery lost 29 cents over the weekend to an even $15.00 with all fourteen markets submitting price quotes (Figure 2). Market price slowly built momentum through the week, reaching a eventual high on Thursday at $15.54 before retreating 9 cents to a Friday closing average of $15.45. The closing average represented a 16 cent gain from the previous Friday closing mark. High individual daily market quote for the week was $15.82 at Helena on Thursday. Old Town/Elaine and West Memphis were both 1 cent behind at $15.81. The lowest individual daily average was $14.59 at Wynne on Monday. Last day individual market quotes found all market prices above the $15.00 level with Wynne providing the bottom at exactly $15.00 and Helena the top at $15.73. West Memphis and Old Town/Elaine closely followed the leader at $15.72. The closing day quotes represented a 72 cent range of prices across the state, a widening of 2 cents from the previous Friday spread.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)